Amdocs Limited (NASDAQ:DOX) Shares Sold by BlackRock Inc.

BlackRock Inc. lowered its stake in shares of Amdocs Limited (NASDAQ:DOX – Get Rating) by 4.1% in the third quarter, HoldingsChannel reports. The fund owned 3,879,883 shares of the technology company’s stock after selling 165,262 shares during the quarter. BlackRock Inc.’s holdings in Amdocs were worth $308,257,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Commonwealth Equity Services LLC increased its stake in shares of Amdocs by 7.0% during the 3rd quarter. Commonwealth Equity Services LLC now owns 2,592 shares of the technology company’s stock valued at $205,000 after acquiring an additional 169 shares during the last quarter. Macquarie Group Ltd. grew its holdings in shares of Amdocs by 0.5% during the 3rd quarter. Macquarie Group Ltd. now owns 31,548 shares of the technology company’s stock worth $2,507,000 after purchasing an additional 148 shares during the period. Point72 Hong Kong Ltd purchased a new stake in shares of Amdocs during the 3rd quarter worth about $389,000. Bahl & Gaynor Inc. grew its holdings in shares of Amdocs by 8.3% during the 3rd quarter. Bahl & Gaynor Inc. now owns 220,019 shares of the technology company’s stock worth $17,481,000 after purchasing an additional 16,783 shares during the period. Finally, PFS Investments Inc. purchased a new stake in shares of Amdocs during the 3rd quarter worth about $1,156,000. Institutional investors and hedge funds own 88.11% of the company’s stock.

Wall Street Analyst Weigh In

DOX has been the subject of a number of research reports. Robert W. Baird boosted their target price on Amdocs from $85.00 to $100.00 and gave the stock a “neutral” rating in a report on Thursday, February 2nd. Barclays boosted their target price on Amdocs to $100.00 in a report on Tuesday, November 15th. Finally, Oppenheimer boosted their target price on Amdocs from $94.00 to $99.00 and gave the stock an “outperform” rating in a report on Wednesday, February 1st. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $98.75.

Amdocs Stock Down 0.4 %

NASDAQ DOX opened at $90.73 on Friday. The stock has a market cap of $10.96 billion, a PE ratio of 20.43, a P/E/G ratio of 1.56 and a beta of 0.65. Amdocs Limited has a fifty-two week low of $76.79 and a fifty-two week high of $97.08. The business has a 50 day moving average price of $92.30 and a two-hundred day moving average price of $87.19. The company has a quick ratio of 1.57, a current ratio of 1.57 and a debt-to-equity ratio of 0.21.

Amdocs Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, April 28th. Shareholders of record on Friday, March 31st will be issued a $0.435 dividend. This represents a $1.74 dividend on an annualized basis and a yield of 1.92%. The ex-dividend date of this dividend is Thursday, March 30th. This is a boost from Amdocs’s previous quarterly dividend of $0.40. Amdocs’s dividend payout ratio is currently 39.19%.

About Amdocs

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Amdocs Ltd. is a holding company, which engages in the provision of software products and services for the communications, entertainment, and media industry service providers. The company was founded in 1988 and is headquartered in Saint Louis, MO.